FEMA Help for Small Businesses Impacted by Hurricane Matthew
Small Business Emergency Bridge Loan Program and other FEMA Assistance Due to Hurricane Matthew
Short Term Interest Free Loans Up To $25,000 Available - Florida’s Small Business Emergency Bridge Loan Program has been activated to support small businesses impacted by Hurricane Matthew. DEO administers the Florida Small Business Emergency Bridge Loan Program to provide an expedient cash flow to businesses damaged by a disaster.
The short-term, interest-free loans help bridge the gap between the time damage is incurred and when a business secures other financial resources, including payment of insurance claims or longer-term loans. Up to $10 million has been allocated for the program.
The bridge loan program will provide short-term, interest-free loans to small businesses that experienced physical or economic damage during the storm and recovery efforts. The application period is from today through November 11, 2016. DEO is currently surveying businesses in the affected counties. To access the business survey, please go to http://flvbeoc.org/index.php?action=bda and select “Hurricane Matthew” from the drop-down menu.
Owners of small businesses with two to 100 employees located in 67 counties affected by Hurricane Matthew can apply for short-term loans for up to $25,000. Loans are granted in terms of 90 or 180 days and are interest-free for that time period. To be eligible, a business must have been established prior to October 3, 2016, and demonstrate economic or physical damage as a result of Hurricane Matthew.
To complete an application by the Nov. 11 deadline, or for more information on the program, visit www.floridadisasterloan.org.For questions regarding the Emergency Bridge Loan Program, contact the Florida Small Business Development Center Network state office at 850-898-3489.